Archer-Daniels-Midland Co., the world’s largest processor of corn, posted second-quarter earnings and sales that missed analysts’ estimates after a decline in ethanol margins and crop export volumes.
A flock of 175,000 chickens in Minnesota, the first in the state, was confirmed to have the highly contagious variety of avian influenza. USDA also confirmed additional cases for turkey flocks in Minnesota and one in Wisconsin.
South Africa is aggressively seeking new markets for its grains in the Middle East and Asia. This year’s corn crop shrank due to drought and transportation infrastructure needs improvement but the nation places high value on trade as a route to for food security.
Corn fell from the highest price since August as demand dropped for shipments from the U.S. and an industry group raised its global production forecast.
